Sulaiman Al Habib recorded an increase in its profits by 870 million riyals in 2019

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The increase in net profits is due to the increase in revenues due to the growth of the hospital sector and the pharmacies sector

The financial statements of Dr. Sulaiman Al Habib Medical Services Group showed that the net profit increased by 8.6% during the year 2019 compared to the company’s profits in the year 2018.

According to the data announced by the company today on Tadawul, the net profit after Zakat and tax increased to 870.23 million riyals for the year 2019, compared to 801.31 million riyals for the year 2018.

The company indicated that the increase in net profits is due to the increase in revenues due to the growth of the hospital sector and the pharmacy sector, compared to a slight decrease in the solutions sector.

She pointed out that the growth in revenues is due to the increase in the number of patients, in all the current hospitals of the group, and with higher growth rates in both Al Suwaidi Hospital and Al Khobar Hospital, as a result of the increase resulting from the operation of the group in the hospital in 2019.

Which indicates that the group had offered 15% of the company’s capital for public subscription at a price of 50 riyals per share, and achieved coverage of the public offering about 83 times, with a total value of 217 billion riyals.

Source
Arabian Business

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